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As usual for the quadrennial event, prices are comparatively high, and most of the fans able to attend are in middle-to-high income brackets.

As the cost of manufacturing increases in China, it makes sense for the world’s manufacturing hub to shift to Africa and it will be win-win if Chinese companies invest in the continent’s manufacturing sector and share their experiences with local partners, Tsang added.

As this year marks the 30th anniversary of the establishment of Singapore-China diplomatic relations, "business communities in both countries are enjoying a long-standing and mutually-beneficial relationship that extend beyond trade and commerce," Teo said in a written interview with Xinhua on Thursday.

As the city's only player in the inner-city bus service sector, the Bengbu Bus Group operates about 1,700 buses on 60 routes and employs 3,570 people, including 1,653 drivers.

As promising as the market is, investing overseas also involves challenges.